Yext Announces Third Quarter Fiscal 2025 Results
Yext (NYSE: YEXT) reported its Q3 fiscal 2025 results with revenue of $114.0 million, marking a 13% year-over-year increase, primarily driven by the Hearsay Systems integration. The company posted a GAAP net loss of $12.8 million ($0.10 per share) but achieved non-GAAP net income of $15.6 million ($0.12 per share). Total ARR grew to $441.8 million, and the company updated its full-year outlook to revenue between $420.3-420.8 million with Adjusted EBITDA of $67.0-67.5 million.
The company reported strong operating efficiencies and margin improvements, with Adjusted EBITDA reaching $23.1 million. Management highlighted successful integration progress with Hearsay Systems and increased platform interest amid evolving search and generative AI trends.
Yext (NYSE: YEXT) ha riportato i risultati del terzo trimestre fiscale 2025, registrando entrate di 114,0 milioni di dollari, con un incremento del 13% rispetto all’anno precedente, principalmente dovuto all’integrazione con Hearsay Systems. L’azienda ha riportato una perdita netta GAAP di 12,8 milioni di dollari (0,10 dollari per azione), ma ha ottenuto un utile netto non-GAAP di 15,6 milioni di dollari (0,12 dollari per azione). L’ARR totale è cresciuto a 441,8 milioni di dollari e l’azienda ha aggiornato le previsioni per l’intero anno con ricavi stimati tra 420,3 e 420,8 milioni di dollari e un EBITDA rettificato tra 67,0 e 67,5 milioni di dollari.
L’azienda ha registrato forti efficienze operative e miglioramenti dei margini, con un EBITDA rettificato che ha raggiunto i 23,1 milioni di dollari. La direzione ha evidenziato i progressi dell’integrazione con Hearsay Systems e un crescente interesse per la piattaforma in mezzo all’evoluzione delle tendenze nella ricerca e nell’IA generativa.
Yext (NYSE: YEXT) reportó sus resultados del tercer trimestre fiscal 2025 con ingresos de 114,0 millones de dólares, marcando un aumento del 13% interanual, impulsado principalmente por la integración de Hearsay Systems. La compañía reportó una pérdida neta GAAP de 12,8 millones de dólares (0,10 dólares por acción), pero logró un ingreso neto no-GAAP de 15,6 millones de dólares (0,12 dólares por acción). El ARR total creció a 441,8 millones de dólares, y la compañía actualizó su pronóstico para el año completo a ingresos entre 420,3 y 420,8 millones de dólares con un EBITDA ajustado de entre 67,0 y 67,5 millones de dólares.
La compañía reportó fuertes eficiencias operativas y mejoras en los márgenes, con un EBITDA ajustado alcanzando los 23,1 millones de dólares. La dirección destacó los avances exitosos en la integración con Hearsay Systems y un aumento en el interés por la plataforma en medio de la evolución de las tendencias de búsqueda y la IA generativa.
Yext (NYSE: YEXT)는 2025 회계년도 3분기 실적을 발표했으며, 매출 1억 1,400만 달러를 기록하여 지난해 동기 대비 13% 증가했습니다. 이는 주로 Hearsay Systems 통합에 기인합니다. 회사는 GAAP 기준 순손실 1,280만 달러 (주당 0.10 달러)을 기록했지만, 비 GAAP 기준 순이익 1,560만 달러 (주당 0.12 달러)를 달성했습니다. 총 ARR은 4억 4,180만 달러로 증가하였으며, 회사는 전체 연도 전망을 4억 2,030만 달러에서 4억 2,080만 달러 사이의 매출과 6,700만에서 6,750만 달러 사이의 조정 EBITDA로 업데이트했습니다.
회사는 운영 효율성과 마진 개선을 보고하였으며, 조정 EBITDA는 2,310만 달러에 달했습니다. 경영진은 Hearsay Systems와의 성공적인 통합 진행 상황을 강조하며, 진화하는 검색 및 생성 AI 트렌드 속에서 플랫폼에 대한 관심이 증가하고 있음을 전했습니다.
Yext (NYSE: YEXT) a publié ses résultats du troisième trimestre de l'exercice 2025, avec des revenus de 114,0 millions de dollars, marquant une augmentation de 13 % d'une année sur l'autre, principalement grâce à l'intégration avec Hearsay Systems. L'entreprise a enregistré une perte nette GAAP de 12,8 millions de dollars (0,10 dollar par action), mais a atteint un bénéfice net non-GAAP de 15,6 millions de dollars (0,12 dollar par action). Le chiffre d'affaires annuel récurrent total a augmenté à 441,8 millions de dollars, et l'entreprise a mis à jour ses prévisions pour l'année entière avec des revenus compris entre 420,3 et 420,8 millions de dollars et un EBITDA ajusté entre 67,0 et 67,5 millions de dollars.
L'entreprise a enregistré de fortes efficacités opérationnelles et des améliorations des marges, avec un EBITDA ajusté atteignant 23,1 millions de dollars. La direction a souligné les progrès réussis de l'intégration avec Hearsay Systems et l'intérêt croissant pour la plateforme dans le contexte des tendances évolutives de la recherche et de l'IA générative.
Yext (NYSE: YEXT) hat die Ergebnisse des dritten Quartals des Geschäftsjahres 2025 mit Einnahmen von 114,0 Millionen US-Dollar gemeldet, was einem Anstieg von 13 % im Vergleich zum Vorjahr entspricht, hauptsächlich getrieben durch die Integration mit Hearsay Systems. Das Unternehmen verzeichnete einen GAAP-Nettoverlust von 12,8 Millionen US-Dollar (0,10 US-Dollar pro Aktie), erzielte jedoch einen Non-GAAP-Nettoertrag von 15,6 Millionen US-Dollar (0,12 US-Dollar pro Aktie). Das gesamte ARR wuchs auf 441,8 Millionen US-Dollar, und das Unternehmen aktualisierte seine Jahresprognose auf Einnahmen zwischen 420,3 und 420,8 Millionen US-Dollar mit einem bereinigten EBITDA von 67,0 bis 67,5 Millionen US-Dollar.
Das Unternehmen berichtete von starken Betriebseffizienzen und Margenverbesserungen, wobei das bereinigte EBITDA 23,1 Millionen US-Dollar erreichte. Das Management hob die erfolgreichen Integrationsfortschritte mit Hearsay Systems hervor und berichtete von gestiegenem Interesse an der Plattform im Zuge der sich entwickelnden Such- und generativen KI-Trends.
- Revenue increased 13% year-over-year to $114.0 million
- Non-GAAP net income of $15.6 million ($0.12 per share)
- Adjusted EBITDA of $23.1 million
- Total ARR grew to $441.8 million
- Successful integration of Hearsay Systems with enhanced social capabilities
- GAAP net loss of $12.8 million ($0.10 per share)
Insights
The Q3 FY2025 results show mixed performance with notable strengths in profitability metrics. The
The Total ARR of
The integration of Hearsay Systems and enhanced social capabilities marks a strategic expansion in Yext's digital presence platform. This positions the company favorably in the current market landscape where fragmented search and generative AI are becoming increasingly critical for businesses. The platform's ability to deliver consistent, accurate experiences across multiple digital touchpoints addresses growing market demands.
The company's focus on AI and machine learning technology for knowledge management and workflow automation represents a competitive advantage in the digital presence sector. This technological foundation, combined with comprehensive offerings from SEO to reputation management, creates a compelling value proposition for multi-location brands seeking unified digital presence management.
-
Revenue of
$114.0 million 13% year-over-year, driven by the integration of Hearsay Systems -
GAAP Net loss of
$12.8 million $0.10 -
Non-GAAP net income of
$15.6 million $0.12 $23.1 million -
Total ARR increased to
$441.8 million -
Full-year outlook updated to
$420.3 million $420.8 million $67.0 million $67.5 million
(Graphic: Yext)
For more detailed information on the Company's operating and financial results for the third quarter fiscal 2025, as well as the Company's outlook for its fourth quarter and fiscal year 2025, please reference the Letter to Shareholders on its Investor Relations website at investors.yext.com.
“Our fiscal third quarter results demonstrate our continued ability to drive operating efficiencies, make significant margin improvements and generate bottom-line growth,” said Mike Walrath, Yext Chairman and CEO. “We are pleased with our progress in integrating Hearsay Systems and have rolled out enhanced social capabilities to our combined customer base. We are seeing increased interest in our platform in a rapidly evolving environment where fragmented search and generative AI are increasingly top of mind, and we remain confident that our overall top-line growth will accelerate over the long term as we help our customers navigate the complexity of this environment.”
Readers are encouraged to review the tables labeled "Reconciliation of GAAP to Non-GAAP Financial Measures" at the end of this release.
Conference Call Information
Yext will host a conference call today at 5:00 P.M. Eastern Time (2:00 P.M. Pacific Time) to discuss its financial results with the investment community. A live webcast of the call will be available on the Yext Investor Relations website at http://investors.yext.com. To participate in the live call by phone, the dial-in is available domestically at (877) 883-0383 and internationally at (412) 902-6506, passcode 1137113.
A replay will be available domestically at (877) 344-7529 or internationally at (412) 317-0088, passcode 8655569, until midnight (ET) December 16, 2024.
About Yext
Yext (NYSE: YEXT) is the leading digital presence platform for multi-location brands, with thousands of customers worldwide. With one central platform, brands can seamlessly deliver consistent, accurate, and engaging experiences and meaningfully connect with customers anywhere in the digital world. Yext’s AI and machine learning technology powers the knowledge behind every customer engagement, automates workflows at scale, and delivers actionable cross-channel insights that enable data-driven decisions. From SEO and websites to social media and reputation management, Yext enables brands to turn their digital presence into a differentiator.
Statement Regarding Forward-Looking Information
This release and the related shareholder letter and conference call include forward-looking statements including, but not limited to, statements regarding our revenue, non-GAAP net income (loss), shares outstanding and Adjusted EBITDA for our fourth quarter and full year fiscal 2025 and general expectations beyond that fiscal year; statements regarding the expected effects of our acquisition and integration of Hearsay Social, Inc. ("Hearsay"); and statements regarding our expectations regarding the growth of our company, our market opportunity, product roadmap, sales efficiency efforts, cost saving actions, and our industry as well as the same for our acquisition and integration of Hearsay. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expect," "plan," "anticipate," "believe," "estimate," "predict," "intend," "potential," "might," "would," "continue," or the negative of these terms or other comparable terminology. Actual events or results may differ from those expressed in these forward-looking statements, and these differences may be material and adverse.
We have based the forward-looking statements contained in this release and discussed on the call primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition, results of operations, strategy, short- and long-term business operations, prospects, business strategy and financial needs. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including, but not limited to, our ability to renew and expand subscriptions with existing customers, especially enterprise customers, and attract new customers generally; our ability to successfully expand and compete in new geographies and industry verticals; our ability to integrate Hearsay's business with ours; our ability to retain personnel necessary for the success of our acquisition and integration of Hearsay; the quality of our sales pipeline and our ability to convert leads; our ability to expand and scale our sales force; our ability to expand our service and application provider network; our ability to develop or acquire new product and platform offerings to expand our market opportunity; our ability to release new products and updates that are adopted by our customers; our ability to manage our growth effectively; weakened or changing global economic conditions, downturns, or uncertainty, including higher inflation, higher interest rates, and fluctuations or volatility in capital markets or foreign currency exchange rates; the number of options exercised by our employees and former employees; and the accuracy of the assumptions and estimates underlying our financial projections. Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this release. We cannot assure you that the results, events and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results, events or circumstances could differ materially from those described in the forward-looking statements. All written and oral forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by these cautionary statements as well as other cautionary statements that are made from time to time in our SEC filings and public communications, including, without limitation, in the sections titled, “Special Note Regarding Forward Looking Statements” and “Risk Factors” in our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, which are available at http://investors.yext.com and on the SEC's website at https://www.sec.gov.
The forward-looking statements made in this release relate only to events as of the date on which such statements are made. We undertake no obligation to update any forward-looking statements after the date hereof or to conform such statements to actual results or revised expectations, except as required by law.
Non-GAAP Measurements
In addition to disclosing financial measures prepared in accordance with
These non-GAAP financial measures are not calculated in accordance with GAAP as they have been adjusted to exclude the effects of stock-based compensation expenses, acquisition-related costs, and amortization of acquired intangibles. Acquisition-related costs include transaction and related costs, subsequent fair value movements in contingent consideration, and compensation arrangements. Non-GAAP net income (loss) as a percentage of revenue is calculated by dividing the applicable non-GAAP financial measure by revenue. Non-GAAP net income (loss) per share is defined as non-GAAP net income (loss) on a per share basis. We define non-GAAP net income (loss) per share, basic, as non-GAAP net income (loss) divided by weighted average shares outstanding and non-GAAP net income (loss) per share, diluted, as non-GAAP net income (loss) divided by weighted average diluted shares outstanding, which includes the potentially dilutive effect of the company’s employee equity incentive awards.
In addition, beginning in fiscal 2025, we are utilizing a projected tax rate of
We believe these non-GAAP financial measures provide investors and other users of our financial information consistency and comparability with our past financial performance and facilitate period-to-period comparisons of our results of operations. With respect to non-GAAP net income (loss) as a percentage of revenue, we believe this non-GAAP financial measure is useful in evaluating our profitability relative to the amount of revenue generated, excluding the impact of stock-based compensation expense, acquisition-related costs, and amortization of acquired intangibles. We also believe non-GAAP financial measures are useful in evaluating our operating performance compared to that of other companies in our industry, as these metrics eliminate the effects of stock-based compensation and certain acquisition-related costs, which may vary for reasons unrelated to overall operating performance.
We also discuss Adjusted EBITDA and Adjusted EBITDA margin, non-GAAP financial measures that we believe offer a useful view of overall operations used to assess the performance of core business operations and for planning purposes. We define Adjusted EBITDA as GAAP net income (loss) before (1) interest income (expense), net, (2) benefit from (provision for) income taxes, (3) depreciation and amortization, (4) other income (expense), net, (5) stock-based compensation expense, and (6) acquisition-related costs. The most directly comparable GAAP financial measure to Adjusted EBITDA is GAAP net income (loss). Users should consider the limitations of using Adjusted EBITDA, including the fact that this measure does not provide a complete measure of our operating performance. Adjusted EBITDA is not intended to purport to be an alternate to GAAP net income (loss) as a measure of operating performance. Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA by revenue.
Beginning with the three months ended July 31, 2024, we revised our definitions of Non-GAAP net income (loss) and Adjusted EBITDA to adjust for the effects of certain acquisition-related costs prompted by our recent acquisition of Hearsay. We believe these changes provide investors with a view of continuing core operations without the effects of unusual activity specific to acquisition-related accounting. These adjustments do not omit or adjust for the inclusion of ongoing operations of acquisitions.
We have recast our results on the same basis for the prior comparative periods presented, although the effects in those periods remain unchanged, as no such acquisition-related activity had occurred.
We use these non-GAAP financial measures in conjunction with traditional GAAP measures as part of our overall assessment of our performance, including the preparation of our annual operating budget and quarterly forecasts, and to evaluate the effectiveness of our business strategies. Our definition may differ from the definitions used by other companies and therefore comparability may be limited. In addition, other companies may not publish these or similar metrics. Thus, our non-GAAP financial measures should be considered in addition to, not as a substitute for, nor superior to or in isolation from, measures prepared in accordance with GAAP.
These non-GAAP financial measures may be limited in their usefulness because they do not present the full economic effect of our use of stock-based compensation and certain acquisition-related costs. We compensate for these limitations by providing investors and other users of our financial information a reconciliation of the non-GAAP financial measure to the most closely related GAAP financial measures. However, we have not reconciled the non-GAAP guidance measures (i.e.,"Financial Outlook") to their corresponding GAAP measures because certain reconciling items such as stock-based compensation, certain acquisition-related costs, and the corresponding provision for income taxes depend on factors such as the stock price at the time of award of future grants, and certain purchase accounting adjustments including subsequent measurements, among others, and thus cannot be reasonably predicted. Accordingly, reconciliations to the non-GAAP guidance measures is not available without unreasonable effort. We encourage investors and others to review our financial information in its entirety, not to rely on any single financial measure and to view non-GAAP net income (loss) and non-GAAP net income (loss) per share in conjunction with GAAP net income (loss) and net income (loss) per share.
We have not reconciled our forward-looking Adjusted EBITDA to its most directly comparable GAAP financial measure of net income (loss). Information on which this reconciliation would be based on is not available without unreasonable efforts due to the uncertainty and inherent difficulty of predicting within a reasonable range, the timing, occurrence and financial impact of when such items may be recognized. In particular, Adjusted EBITDA excludes certain items including interest income (expense), net, provision for income taxes, depreciation and amortization, other income (expense), net, stock-based compensation expense, and acquisition-related costs.
Operating Metrics
This release also includes certain operating metrics that we believe are useful in providing additional information in assessing the overall performance of our business.
Annual recurring revenue, or ARR, for Direct customers is defined as the annualized recurring amount of all contracts in our enterprise, mid-size and small business customer base as of the last day of the reporting period. The recurring amount of a contract is determined based upon the terms of a contract and is calculated by dividing the amount of a contract by the term of the contract and then annualizing such amount. The calculation assumes no subsequent changes to the existing subscription. Contracts include portions of professional services contracts that are recurring in nature.
ARR for Third-party Reseller customers is defined as the annualized recurring amount of all contracts with Third-party Reseller customers as of the last day of the reporting period. The recurring amount of a contract is determined based upon the terms of a contract and is calculated by dividing the amount of a contract by the term of the contract and then annualizing such amount. The calculation assumes no subsequent changes to the existing subscription. The calculation includes the annualized contractual minimum commitment and excludes amounts related to overages above the contractual minimum commitment. Contracts include portions of professional services contracts that are recurring in nature.
Total ARR is defined as the annualized recurring amount of all contracts executed as of the last day of the reporting period. The recurring amount of a contract is determined based upon the terms of a contract and is calculated by dividing the amount of a contract by the term of the contract and then annualizing such amount. The calculation assumes no subsequent changes to the existing subscription, and where relevant, includes the annualized contractual minimum commitment and excludes amounts related to overages above the contractual minimum commitment. Contracts include portions of professional services contracts that are recurring in nature.
ARR is independent of historical revenue, unearned revenue, remaining performance obligations or any other GAAP financial measure over any period. It should be considered in addition to, not as a substitute for, nor superior to or in isolation from, these measures and other measures prepared in accordance with GAAP. We believe ARR-based metrics provides insight into the performance of our recurring revenue business model while mitigating fluctuations in billing and contract terms.
Dollar-based net retention rate is a metric we use to assess our ability to retain our customers and expand the ARR they generate for us. We calculate dollar-based net retention rate by first determining the ARR generated 12 months prior to the end of the current period for a cohort of customers who had active contracts at that time. We then calculate ARR from the same cohort of customers at the end of the current period, which includes customer expansion, contraction and churn. The current period ARR is then divided by the prior period ARR to arrive at our dollar-based net retention rate. Any ARR obtained through merger and acquisition transactions does not affect the dollar-based net retention rate until one year from the date on which the transaction closed. The cohorts of customers that we present dollar-based net retention rate for include direct, third-party reseller, and total customers. Direct customers include enterprise, mid-size and small business customers.
YEXT, INC. Condensed Consolidated Balance Sheets (In thousands, except share and per share data) (Unaudited) |
|||||||
|
October 31, 2024 |
|
January 31, 2024 |
||||
Assets |
|
|
|
||||
Current assets: |
|
|
|
||||
Cash and cash equivalents |
$ |
100,484 |
|
|
$ |
210,184 |
|
Restricted cash, current |
|
11,671 |
|
|
|
— |
|
Accounts receivable, net of allowances of |
|
57,778 |
|
|
|
108,198 |
|
Prepaid expenses and other current assets |
|
17,353 |
|
|
|
14,849 |
|
Costs to obtain revenue contracts, current |
|
21,447 |
|
|
|
26,680 |
|
Total current assets |
|
208,733 |
|
|
|
359,911 |
|
Property and equipment, net |
|
42,246 |
|
|
|
48,542 |
|
Operating lease right-of-use assets |
|
70,124 |
|
|
|
75,989 |
|
Restricted cash, non-current |
|
5,850 |
|
|
|
— |
|
Costs to obtain revenue contracts, non-current |
|
11,649 |
|
|
|
16,710 |
|
Goodwill |
|
105,020 |
|
|
|
4,478 |
|
Intangible assets, net |
|
87,986 |
|
|
|
168 |
|
Other long term assets |
|
8,735 |
|
|
|
3,012 |
|
Total assets |
$ |
540,343 |
|
|
$ |
508,810 |
|
Liabilities and stockholders’ equity |
|
|
|
||||
Current liabilities: |
|
|
|
||||
Accounts payable, accrued expenses and other current liabilities |
$ |
62,111 |
|
|
$ |
38,766 |
|
Unearned revenue, current |
|
160,855 |
|
|
|
212,210 |
|
Operating lease liabilities, current |
|
18,380 |
|
|
|
16,798 |
|
Total current liabilities |
|
241,346 |
|
|
|
267,774 |
|
Operating lease liabilities, non-current |
|
80,293 |
|
|
|
89,562 |
|
Contingent consideration, non-current |
|
40,107 |
|
|
|
— |
|
Other long term liabilities |
|
18,635 |
|
|
|
4,300 |
|
Total liabilities |
|
380,381 |
|
|
|
361,636 |
|
Commitments and contingencies |
|
|
|
||||
Stockholders’ equity: |
|
|
|
||||
Preferred stock, |
|
— |
|
|
|
— |
|
Common stock, |
|
152 |
|
|
|
148 |
|
Additional paid-in capital |
|
983,358 |
|
|
|
942,622 |
|
Accumulated other comprehensive loss |
|
(4,501 |
) |
|
|
(4,183 |
) |
Accumulated deficit |
|
(699,845 |
) |
|
|
(679,172 |
) |
Treasury stock, at cost |
|
(119,202 |
) |
|
|
(112,241 |
) |
Total stockholders’ equity |
|
159,962 |
|
|
|
147,174 |
|
Total liabilities and stockholders’ equity |
$ |
540,343 |
|
|
$ |
508,810 |
|
YEXT, INC. Condensed Consolidated Statements of Operations and Comprehensive Loss (In thousands, except share and per share data) (Unaudited) |
|||||||||||||||
|
Three months ended October 31, |
|
Nine months ended October 31, |
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
Revenue |
$ |
113,989 |
|
|
$ |
101,164 |
|
|
$ |
307,866 |
|
|
$ |
303,215 |
|
Cost of revenue |
|
26,247 |
|
|
|
22,066 |
|
|
|
70,086 |
|
|
|
65,809 |
|
Gross profit |
|
87,742 |
|
|
|
79,098 |
|
|
|
237,780 |
|
|
|
237,406 |
|
Operating expenses: |
|
|
|
|
|
|
|
||||||||
Sales and marketing |
|
43,667 |
|
|
|
45,355 |
|
|
|
128,878 |
|
|
|
136,942 |
|
Research and development |
|
21,070 |
|
|
|
18,291 |
|
|
|
56,709 |
|
|
|
53,934 |
|
General and administrative |
|
33,373 |
|
|
|
17,233 |
|
|
|
75,553 |
|
|
|
53,774 |
|
Total operating expenses |
|
98,110 |
|
|
|
80,879 |
|
|
|
261,140 |
|
|
|
244,650 |
|
Loss from operations |
|
(10,368 |
) |
|
|
(1,781 |
) |
|
|
(23,360 |
) |
|
|
(7,244 |
) |
Interest income |
|
823 |
|
|
|
1,922 |
|
|
|
5,578 |
|
|
|
5,296 |
|
Interest expense |
|
(222 |
) |
|
|
(173 |
) |
|
|
(738 |
) |
|
|
(334 |
) |
Other expense, net |
|
(55 |
) |
|
|
(70 |
) |
|
|
(397 |
) |
|
|
(687 |
) |
Loss from operations before income taxes |
|
(9,822 |
) |
|
|
(102 |
) |
|
|
(18,917 |
) |
|
|
(2,969 |
) |
Provision for income taxes |
|
(2,977 |
) |
|
|
(366 |
) |
|
|
(1,756 |
) |
|
|
(1,348 |
) |
Net loss |
$ |
(12,799 |
) |
|
$ |
(468 |
) |
|
$ |
(20,673 |
) |
|
$ |
(4,317 |
) |
|
|
|
|
|
|
|
|
||||||||
Net loss per share attributable to common stockholders, basic and diluted |
$ |
(0.10 |
) |
|
$ |
— |
|
|
$ |
(0.16 |
) |
|
$ |
(0.03 |
) |
Weighted-average number of shares used in computing net loss per share attributable to common stockholders, basic and diluted |
|
128,036,993 |
|
|
|
124,239,180 |
|
|
|
126,668,394 |
|
|
|
123,962,358 |
|
|
|
|
|
|
|
|
|
||||||||
Other comprehensive (loss) income: |
|
|
|
|
|
|
|
||||||||
Foreign currency translation adjustment |
$ |
(144 |
) |
|
$ |
(876 |
) |
|
$ |
(324 |
) |
|
$ |
(722 |
) |
Unrealized gain on marketable securities, net |
|
2 |
|
|
|
16 |
|
|
|
6 |
|
|
|
4 |
|
Total comprehensive loss |
$ |
(12,941 |
) |
|
$ |
(1,328 |
) |
|
$ |
(20,991 |
) |
|
$ |
(5,035 |
) |
YEXT, INC. Condensed Consolidated Statements of Cash Flows (In thousands) (Unaudited) |
|||||||
|
Nine months ended October 31, |
||||||
|
|
2024 |
|
|
|
2023 |
|
Operating activities: |
|
|
|
||||
Net loss |
$ |
(20,673 |
) |
|
$ |
(4,317 |
) |
Adjustments to reconcile net loss to net cash provided by operating activities: |
|
|
|
||||
Depreciation and amortization expense |
|
12,101 |
|
|
|
12,625 |
|
Bad debt expense |
|
1,017 |
|
|
|
589 |
|
Stock-based compensation expense |
|
37,091 |
|
|
|
34,335 |
|
Amortization of operating lease right-of-use assets |
|
6,471 |
|
|
|
6,739 |
|
Adjustments to contingent consideration |
|
607 |
|
|
|
— |
|
Other, net |
|
(751 |
) |
|
|
351 |
|
Changes in operating assets and liabilities, net of assets acquired and liabilities assumed in a business acquisition: |
|
|
|
||||
Accounts receivable |
|
55,285 |
|
|
|
57,251 |
|
Prepaid expenses and other current assets |
|
(74 |
) |
|
|
(2,738 |
) |
Costs to obtain revenue contracts |
|
10,476 |
|
|
|
9,054 |
|
Other long term assets |
|
256 |
|
|
|
542 |
|
Accounts payable, accrued expenses and other current liabilities |
|
7,181 |
|
|
|
(9,175 |
) |
Unearned revenue |
|
(89,117 |
) |
|
|
(78,434 |
) |
Operating lease liabilities |
|
(8,312 |
) |
|
|
(8,892 |
) |
Other long term liabilities |
|
307 |
|
|
|
207 |
|
Net cash provided by operating activities |
|
11,865 |
|
|
|
18,137 |
|
Investing activities: |
|
|
|
||||
Capital expenditures |
|
(1,769 |
) |
|
|
(2,320 |
) |
Cash paid in acquisition, net of cash acquired |
|
(89,407 |
) |
|
|
— |
|
Net cash used in investing activities |
|
(91,176 |
) |
|
|
(2,320 |
) |
Financing activities: |
|
|
|
||||
Proceeds from exercise of stock options |
|
1,137 |
|
|
|
8,770 |
|
Repurchase of common stock |
|
(6,760 |
) |
|
|
(23,086 |
) |
Payments for taxes related to net share settlement of stock-based compensation awards |
|
(9,031 |
) |
|
|
(10,718 |
) |
Payments of deferred financing costs |
|
(777 |
) |
|
|
(394 |
) |
Proceeds, net from employee stock purchase plan withholdings |
|
2,218 |
|
|
|
2,546 |
|
Net cash used in financing activities |
|
(13,213 |
) |
|
|
(22,882 |
) |
Effect of exchange rate changes on cash, cash equivalents and restricted cash |
|
345 |
|
|
|
(993 |
) |
Net decrease in cash, cash equivalents and restricted cash |
|
(92,179 |
) |
|
|
(8,058 |
) |
Cash, cash equivalents and restricted cash at beginning of period |
|
210,184 |
|
|
|
190,214 |
|
Cash, cash equivalents and restricted cash at end of period |
$ |
118,005 |
|
|
$ |
182,156 |
|
Supplemental reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets:
|
Nine months ended October 31, |
||||
(in thousands) |
2024 |
|
2023 |
||
Cash and cash equivalents |
$ |
100,484 |
|
$ |
182,156 |
Restricted cash, current and non-current |
|
17,521 |
|
|
— |
Total cash, cash equivalents and restricted cash |
$ |
118,005 |
|
$ |
182,156 |
YEXT, INC. Reconciliations of GAAP to Non-GAAP Financial Measures (In thousands) (Unaudited) |
|||||||||||||||
|
Three months ended October 31, |
|
Nine months ended October 31, |
||||||||||||
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||||||
GAAP net loss to Adjusted EBITDA: |
|
|
|
|
|
|
|
||||||||
GAAP net loss |
$ |
(12,799 |
) |
|
$ |
(468 |
) |
|
$ |
(20,673 |
) |
|
$ |
(4,317 |
) |
Interest (income) expense, net |
|
(601 |
) |
|
|
(1,749 |
) |
|
|
(4,840 |
) |
|
|
(4,962 |
) |
Provision for income taxes |
|
2,977 |
|
|
|
366 |
|
|
|
1,756 |
|
|
|
1,348 |
|
Depreciation and amortization |
|
6,287 |
|
|
|
3,537 |
|
|
|
12,101 |
|
|
|
12,625 |
|
Other expense (income), net |
|
55 |
|
|
|
70 |
|
|
|
397 |
|
|
|
687 |
|
Stock-based compensation expense |
|
12,693 |
|
|
|
11,758 |
|
|
|
37,091 |
|
|
|
34,335 |
|
Acquisition-related costs |
|
14,482 |
|
|
|
— |
|
|
|
16,650 |
|
|
|
— |
|
Adjusted EBITDA |
$ |
23,094 |
|
|
$ |
13,514 |
|
|
$ |
42,482 |
|
|
$ |
39,716 |
|
|
|
|
|
|
|
|
|
||||||||
GAAP net loss as a percentage of revenue |
|
(11.2 |
)% |
|
|
(0.5 |
)% |
|
|
(6.7 |
)% |
|
|
(1.4 |
)% |
Adjusted EBITDA margin |
|
20.3 |
% |
|
|
13.4 |
% |
|
|
13.8 |
% |
|
|
13.1 |
% |
__________________
|
|||||||||||||||
YEXT, INC. Reconciliation of GAAP to Non-GAAP Financial Measures (In thousands, except share and per share data) (Unaudited) |
|||||||
|
Three months ended October 31, |
||||||
|
2024 |
|
2023 |
||||
GAAP net loss |
$ |
(12,799 |
) |
|
$ |
(468 |
) |
Plus: Stock-based compensation expense |
|
12,693 |
|
|
|
11,758 |
|
Plus: Acquisition-related costs |
|
14,482 |
|
|
|
— |
|
Plus: Amortization of acquired intangibles |
|
3,465 |
|
|
|
— |
|
Less: Tax adjustment(1) |
|
(2,226 |
) |
|
|
— |
|
Non-GAAP net income |
$ |
15,615 |
|
|
$ |
11,290 |
|
GAAP net loss as a percentage of revenue |
|
(11.2 |
)% |
|
|
(0.5 |
)% |
Non-GAAP net income as a percentage of revenue |
|
13.7 |
% |
|
|
11.2 |
% |
|
|
|
|
||||
GAAP net loss per share attributable to common stockholders, basic |
$ |
(0.10 |
) |
|
$ |
— |
|
Non-GAAP net income per share attributable to common stockholders, basic |
$ |
0.12 |
|
|
$ |
0.09 |
|
|
|
|
|
||||
GAAP net loss per share attributable to common stockholders, diluted |
$ |
(0.10 |
) |
|
$ |
— |
|
Non-GAAP net income per share attributable to common stockholders, diluted |
$ |
0.12 |
|
|
$ |
0.09 |
|
|
|
|
|
||||
Weighted-average number of shares used in computing GAAP net loss per share attributable to common stockholders |
|
|
|
||||
Basic |
|
128,036,993 |
|
|
|
124,239,180 |
|
Diluted |
|
128,036,993 |
|
|
|
124,239,180 |
|
Weighted-average number of shares used in computing non-GAAP net income per share attributable to common stockholders |
|
|
|
||||
Basic |
|
128,036,993 |
|
|
|
124,239,180 |
|
Diluted |
|
130,351,066 |
|
|
|
126,733,610 |
|
(1) Beginning in fiscal 2025, we are utilizing a projected tax rate of |
|||||||
____________________
|
|||||||
YEXT, INC. Reconciliation of GAAP to Non-GAAP Financial Measures (In thousands, except share and per share data) (Unaudited) |
|||||||
|
Nine months ended October 31, |
||||||
|
2024 |
|
2023 |
||||
GAAP net loss |
$ |
(20,673 |
) |
|
$ |
(4,317 |
) |
Plus: Stock-based compensation expense |
|
37,091 |
|
|
|
34,335 |
|
Plus: Acquisition-related costs |
|
16,650 |
|
|
|
— |
|
Plus: Amortization of acquired intangibles |
|
3,465 |
|
|
|
— |
|
Less: Tax adjustment(1) |
|
(7,816 |
) |
|
|
— |
|
Non-GAAP net income |
$ |
28,717 |
|
|
$ |
30,018 |
|
GAAP net loss as a percentage of revenue |
|
(6.7 |
)% |
|
|
(1.4 |
)% |
Non-GAAP net income as a percentage of revenue |
|
9.3 |
% |
|
|
9.9 |
% |
|
|
|
|
||||
GAAP net loss per share attributable to common stockholders, basic |
$ |
(0.16 |
) |
|
$ |
(0.03 |
) |
Non-GAAP net income per share attributable to common stockholders, basic |
$ |
0.23 |
|
|
$ |
0.24 |
|
|
|
|
|
||||
GAAP net loss per share attributable to common stockholders, diluted |
$ |
(0.16 |
) |
|
$ |
(0.03 |
) |
Non-GAAP net income per share attributable to common stockholders, diluted |
$ |
0.22 |
|
|
$ |
0.23 |
|
|
|
|
|
||||
Weighted-average number of shares used in computing GAAP net loss per share attributable to common stockholders |
|
|
|
||||
Basic |
|
126,668,394 |
|
|
|
123,962,358 |
|
Diluted |
|
126,668,394 |
|
|
|
123,962,358 |
|
Weighted-average number of shares used in computing non-GAAP net income per share attributable to common stockholders |
|
|
|
||||
Basic |
|
126,668,394 |
|
|
|
123,962,358 |
|
Diluted |
|
127,976,060 |
|
|
|
127,808,283 |
|
(1) Beginning in fiscal 2025, we are utilizing a projected tax rate of |
|||||||
____________________
|
|||||||
YEXT, INC. Supplemental Information (In thousands) (Unaudited) |
||||||||||
|
October 31, |
|
Variance |
|||||||
|
2024 |
2023 |
|
Dollars |
Percent |
|||||
Annual Recurring Revenue |
|
|
|
|
|
|||||
Direct Customers |
$ |
374,502 |
$ |
326,625 |
|
$ |
47,877 |
|
15 |
% |
Third-Party Reseller Customers |
|
67,293 |
|
70,201 |
|
|
(2,908 |
) |
(4 |
)% |
Total Annual Recurring Revenue |
$ |
441,795 |
$ |
396,826 |
|
$ |
44,969 |
|
11 |
% |
|
|
|
|
|
|
|||||
|
Oct. 31, 2024 |
Jul. 31, 2024 |
Apr. 30, 2024 |
Jan. 31, 2024 |
Oct. 31, 2023 |
|||||
Annual Recurring Revenue Trend |
|
|
|
|
|
|||||
Direct Customers |
$ |
374,502 |
$ |
313,392 |
$ |
312,060 |
$ |
315,594 |
$ |
326,625 |
Third-Party Reseller Customers |
|
67,293 |
|
68,361 |
|
70,528 |
|
71,784 |
|
70,201 |
Total Annual Recurring Revenue |
$ |
441,795 |
$ |
381,753 |
$ |
382,588 |
$ |
387,378 |
$ |
396,826 |
|
Oct. 31, 2024 |
Jul. 31, 2024 |
Apr. 30, 2024 |
Jan. 31, 2024 |
Oct. 31, 2023 |
Dollar-Based Net Retention Rate |
|
|
|
|
|
Direct Customers |
|
|
|
|
|
Third-Party Reseller Customers |
|
|
|
|
|
Total Customers |
|
|
|
|
|
| ___________________ Note: Numbers rounded for presentation purposes and may not sum. |
|||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20241209740722/en/
Investor Relations:
IR@yext.com
Public Relations:
PR@yext.com
Source: Yext, Inc.
FAQ
What was Yext's revenue growth in Q3 fiscal 2025?
What was YEXT's ARR (Annual Recurring Revenue) in Q3 2025?
What is Yext's revenue guidance for fiscal year 2025?
Did YEXT report a profit in Q3 fiscal 2025?
